League of Legends buys Clash of Clans

The company Tencent, who owns interest in League of Legends creator Riot games, has bought a stake in another gaming developer. Tencent has acquired a large interest in SuperCell, creator of the popular mobile game Clash of Clans.

Tencent paid $8.6 billion to receive an 84.3% stake in Supercell. In a press release, Tencent announced that Supercell will continue under the same management it has been. This deal now makes Supercell valued at $10.4 billion.

"We dream of our current and future games becoming a part of the rich history of games, living onto the very long term. And if you take this very long-term view, you quickly realize that we are still at the beginning of what will hopefully be a very long journey."

Over 100 million users play Clash of Clans every day, and it was the second highest grossing mobile game of 2015. Supercell's other games include Hay Day, Boom Beach, and Clash Royale.